Category: Bitcoin Analysis

How Investors Could See “Max Pain” Following Friday’s $740m Bitcoin Options Expiry

boss

In just a few days, the Bitcoin options market will see a massive $740 million contract expiry, which accounts for roughly 37% of the total outstanding open interest within the market. This expiration may have some impacts on the crypto market’s price action, as those holding both calls and puts may move to cover or roll-over their positions depending on where the benchmark cryptocurrency is trading at around this time. The vast majority of these contracts are on Deribit – signaling that the platform still has absolute domination over the…

This Unique Perspective Makes It Clear Bitcoin Cycles Are Lengthening

boss

Bitcoin breaking through resistance at $10,000 was a pivotal moment for the cryptocurrency. At the same time, it also breached a long-term downtrend line and top of a symmetrical triangle formation dating back from all-time high. All signs point to the new uptrend beginning. Halving-based cycle theories point to a new peak by the end of next year. Targets reach as high as $325,000 at the peak. But what if Bitcoin cycles, as analysts on the other side of the argument claim, are lengthening? A new, unique perspective on Bitcoin…

“Upside Reversal” In Bitcoin Possible, Here’s What To Watch For

boss

Yesterday, Bitcoin suffered a crash that took the asset back down to $11,107 at the low on Coinbase. After a small rebound leaving a wick behind, BTCUSD closed the daily back inside the Bollinger Bands, potentially preventing further downside. It has the indicator’s creator on the lookout for an “upside reversal” in the first-ever cryptocurrency before initiating a long trade. But what exactly should traders and investors look for to signal that an upside reversal is taking place? John Bollinger Calls Out Potential BTCUSD Upside Reversal After Fall To Bottom…

Bitcoin is Forming an “Ugly” Weekly Candle as Upwards Momentum Falters

boss

Bitcoin is showing some signs of weakness as its price hovers around its key near-term support at $11,300. Bulls have been able to post an ardent defense of this level throughout the past day, with each dip below it being met with massive inflows of buying pressure. Earlier this morning, sellers forced BTC to lows of $11,275, at which point the benchmark crypto saw a sharp rebound that led it back up towards $11,400. Despite the strong support at this level, the recent decline struck a heavy blow to Bitcoin’s…

Bitcoin Is in “Do or Die” Territory After $500 Correction: Here’s Why

boss

Bitcoin has embarked on a strong correction over the past 24 hours. After peaking at $11,850 earlier this week, the asset slipped as low as $11,150 on Tuesday as selling mounted on spot exchanges, evidenced by a negative predicted funding rate with OKEx’ BTC perpetual futures market. While the asset has bounced back to $11,300 as of this article’s writing, the asset remains $500 lower than it was just the other day and below pivotal technical support levels. Analysts say that Bitcoin is now in do or die territory, where…

Buy Crypto: Search Term Spikes To Highest Point Since Bitcoin Bubble

boss

Google Trends can be a helpful tool to watch to spot sudden changes in crypto market sentiment. For example, searches for Bitcoin peaked back in 2017 when the asset ballooned to $20,000 before the bubble popped. Nearly three full years later, search queries for the term “buy crypto” has reached the highest level since the Bitcoin bubble and resulting burst in 2018. Altcoins Outperform Bitcoin, Total Cryptocurrency Market Comparative Data Shows The total cryptocurrency market cap is up 80% year to date. Bitcoin, however, is only up just over 50%…

Bitcoin Slips Below $11,400 Momentarily, Have Bulls Lost Critical Support?

boss

Bitcoin price earlier today broke below $11,500 and within hours slid below $11,400 momentarily. Currently, the leading cryptocurrency by market cap is trying to find support at the critical level. But why is this level so important for bulls to maintain? And if this level is lost, where may targets lie below? Bitcoin Falls Below Critical Weekly Support at $14,000 But Can Bulls Hold Their Ground? Bitcoin’s uptrend is now in jeopardy. After the cryptocurrency experienced one of its hottest summers on record, things are potentially ready to cool off…

Bitcoin Drops Below $11,500: Is The Short-Term Crypto Market Uptrend Over?

boss

Bitcoin price just broke below $11,500 briefly, dragging the rest of the crypto market down with it. Since last evening’s daily candle close, the crypto market has lost over $8 billion in value. Is this the start of a greater market correction, or is this yet another opportunity to buy the dip? Bitcoin Falls Below $11,500, Prompting Widespread Crypto Market Profit Taking Since the start of 2020 to the yearly high, the total crypto market cap grew by over 100%. Bitcoin’s year-to-date returns aren’t far behind at over 60%. The…

Bitcoin Sells Off At $11.8K ahead of Powell Speech; Is $10.5K Next?

boss

Much of Bitcoin’s short-term market bias now hinge on the outcome of the virtual Jackson Hole meeting at the end of this week. The benchmark cryptocurrency showed signs of weakness ahead of the event. It fell by close to 1.5 percent during the early London trading session Tuesday after setting an intraday top at $11,823 a day before. Traders showed resilience to enter the market at the said high as they waited for the monetary policymakers to shed more light on the global economy’s health. To Ease or Not to…

Bitcoin Trading Near Inflection Point: Here’s Why 11,650 Holds The Key

boss

Bitcoin price started an upside correction from the $11,350 support against the US Dollar. BTC is currently declining, but it could bounce back as long as it is above $11,650 or $11,550. Bitcoin formed a high near $11,825 and it is currently correcting lower. The price is testing a key support near $11,650 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $11,710 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must stay…